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Bloomberg Saudi Arabia does not want a war with Iran but will respond “with strength and determination” if Iran decides to start one, a top Saudi official said. “We don’t want a war in any way, but at the same time we won’t allow Iran to continue its hostile policies towards the kingdom,” Minister of State for Foreign Affairs Adel ...

DUSHANBE / WAM The UAE is deeply committed to fighting terrorism and drying up the sources of its financing and stressed the need for strengthening regional and international multilateral cooperation to address challenges related to terrorism. Delivering the UAE statement before the plenary opening session of the high-level “Conference on International and Regional Cooperation in Countering Terrorism and its Financing ...

DUBAI / Emirates Business The Dubai Smart City Accelerator (DSCA), the first industry-focused accelerator award winning program of its kind in the Mena region, has issued an open call for applications from global startups dedicated to innovative smart city solutions to join its third cohort. DSCA was launched in May 2017 by Dubai Silicon Oasis Authority (DSOA) in collaboration with ...

Dubai / Emirates Business The strengthening of national and global food security was the topic on the agenda during the visit of Her Excellency Mariam Almheiri, Minister of State for Food Security, to South Korea. Building on the existing strategic alliances that the UAE has with Asia’s fourth largest economy, the visit formed part of the UAE’s extensive Official Development ...

FUJAIRAH / WAM A wide range of development projects are underway in the UAE’s East Coast Emirate of Fujairah as it seeks to diversify its economy. The Port of Fujairah, its adjacent anchorage and the Fujairah Oil Industry Zone, FOIZ, are already well-established as the second largest oil bunkering centre in the world, with a new 250,000 barrels per day ...

Bloomberg Luckin Coffee Inc, a challenger to Starbucks Corp in the race to dominate China’s growing coffee culture, climbed in its trading debut after raising $561 million in an expanded US initial public offering. The Xiamen-based company, which opened at $25, climbed as much as 53 percent in New York trading. Luckin sold 33 million American depositary shares for $17 ...

Bloomberg Alibaba Group Holding Ltd faces complaints from six European consumer organisations into allegedly unfair user terms for its online retail service, arguing some of the clauses violate European Union law. Consumer groups, including from France, Spain, Italy and the Netherlands, filed complaints with national regulators to probe “unclear” and “problematic contract terms and practices” for AliExpress users in the ...

Bloomberg President Donald Trump said the US will lift steel and aluminum tariffs on Canada and Mexico, boosting efforts to encourage lawmakers to ratify a new North American trade deal. “I’m pleased to announce that we’ve just reached an agreement with Canada and Mexico and will be selling our product into those countries without the imposition of tariffs or major ...

Bloomberg Cisco Systems Inc. gave a bullish sales and profit forecast for the current period, a sign that corporations continue to spend on their computer networks despite concern that a trade dispute between China and the US will slow global economic growth. Sales in the fiscal fourth quarter will increase 4.5% to 6.5% from the same period a year earlier, ...

Bloomberg BMW AG’s chief executive officer defended his track record at the company’s annual meeting, highlighting a luxury lead in the US and sales growth through a Chinese downturn, even as the carmaker battles to reverse weaker margins. BMW is struggling alongside rivals with a drop in demand after years of auto-industry growth, and record spending for a technology transition. ...